Turkey bought wheat at a tender at a price of $ 453 / t

Turkish agency TMO on an international tender on March 18 bought 270 thousand tons of food wheat with protein 11.5-12.5% with delivery from March 28 to April 22 at an average price of $ 453.23 / ton C&F, which is much higher than the price of wheat purchased at the beginning of the month at $ 417 / t C&F.

According to traders, part of the purchased wheat will be of Russian and the other - of European origin. Turkey has not imposed sanctions on Russia and continues to trade with it, offering settlements in Turkish lira to maintain supplies of its fruits and vegetables to Russia.

As a result of the war, seaports and exports from Ukraine were blocked, and some international companies refused to purchase Russian goods, including wheat, so world wheat prices rose to $ 400-480 / t.

According to AgriCensus, EU countries have more opportunities to compensate for the deficit of grain exports from the Black Sea region.

According to FranceAgriMer, 6 million tons of wheat in Ukraine and 12 million tons of wheat in Russia are currently blocked for export. This will allow other countries, including the EU, to sell their rather large stocks of wheat at high prices.

FranceAgriMer experts have raised the forecast for exports of soft wheat from France in 2021/22 MY to 9.7 million tons outside the EU and up to 7.8 million tons to other EU countries.

Ukraine needs to unblock at least one port for exports, but Russia continues to shell Odessa and mine part of the passages to Odessa in the Black Sea.

Minister of Agriculture of Ukraine R. Leshchenko announced the development of opportunities for grain exports by rail across the western border. The western neighbors are also working on the abolition of quotas and restrictions on the supply of grain through the Black Sea ports of neighboring countries - Moldova and Romania.